Right Medical introduced a new implant that carries a five year warranty against manufacturers defects. Based on industry experience with similar product instructions, warranty costs are expected to approximate 1% of sales. Seals were 15 million an actual warranty expenditures were $20,000 for the first year of selling the product. What amount (if any) should Right reports as a liability at the end of the year

gicht Medical introduced a new implant that caries a five year warmanty against manufacturer's defets B CHAPTER 13 Current Liabilities and Contingencies Current Liabilitiesa 765 Right on industry experience with similar product introductions, warranty costs are expected to approxina r warranty against manufacturer's defects. Based on in les. Sales were $15 million and actual warranty expenditures were duct. What amount (if any) should Right report as a liability at the end of the year? y costs are expected to approximate 1% of 1013-6 sules Sales wperience $20,000 for the first year of selling the